QLACs

There’s a common anxiety that plagues millions of Americans today: the fear of outliving their retirement savings. This concern isn’t without merit given the rising cost of living, healthcare expenses, and increased life expectancy. However, a tax-advantaged annuity known as a Qualified Longevity Annuity Contract (QLAC) is a potential solution to this worry. The Power of QLACs Starting this year, Americans can use up to $200,000 of their retirement accounts to purchase QLACs, as set by Congress. This limit is a significant increase from the previous cap of $145,000 or…